Chinese giant lithium acquires 24% of Chile's SQM for $ $4 billion

The Chinese Tianqi lithium giant reached an agreement to buy the Canadian 24 Nutrients% Chile SQM, which operates one of the largest lithium deposits in the world, announced the companies on Thursday (17). The agreement between the production of bile, which operates in the Canadian industry of fertilizers, and the disbursement of the Tianqi Lithium provides for a Chinese company to $ $4.066 billion, which will be financed with own funds and credits, according to the note. The Nutrients will still save the equivalent of 7% of the Chilean company, which "plans to sell at the right time". Lithium is a metal used in the manufacture of batteries-especially in cell phones and electric cars. China is one of the largest markets in the world for this type of vehicle. "We are thrilled to be a part of the present and future development of lithium industry of Chile," said the President of Tianqi Lithium, Vivian Wu, in the statement. The companies expect to realize the deal in the fourth quarter of 2018. "Once the deal materialize, the Tianqi Lithium will come to a controlling position in MCS," the statement from the company, trying to dispel fears that arise in Chile about the power it would have within the MCS. The Chemical and Mining Company of Chile (SQM) explores with the American Albemarle as Rico lithium deposit in the world, the salar of Atacama in northern Chile. When the expected agreement for months-it has been confirmed, the actions of the SQM on Santiago remained stable (+ 0.02%). "It's something important, although widely expected. The matter of Tianqi company to enter the SQM was the most consistent in relation to other interested, overcoming a long series of episodes that have generated great uncertainty, "he told AFP Plusmining consulting analyst, Juan Carlos Guajardo. Born of the merger between Agrium and Potash Corp., the Nutrients had to sell the stock package on SQM by imposition of regulators of free competition, to your merger approved